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Discussion in 'General' started by lifeismorethankicks, Mar 6, 2009.
It was fun while it lasted but it wonders me how the gov will reconstruct everytime
wow. the government is just handing out money like its candy
but seriously... Great Depression all over again if people all rush & try to withdraw all their money at once.
man... i thought u were talkin about U.S. Bank in particular. cuz we're just fine homie we don't have to worry about all that nonsensical bank failuretalk
this is 10 X worst than the great depression smh. were going down
NO matter what they can not let the FDIC go down because everyone will empty their bank account. But imagine if that happens, everyone will have their lifesavings in cash and home invasions will sky rocket.
If people panic and take their money out...... it could get very ugly.
We'd have a lot more to worry about than home invasions if everyone withdraws.
I dont even got that much money to worry about. When banks fail how much money do the actual customer loose?
Wow. Not surprising is that this was released yesterday and I can tell nobody else heard this until now.
We're #+%$*@ if this happens. I may as well withdraw my money now anyways. I went from earning around 4.5% APY when I started to 1.65% APY now.
is that not the whole purpose of the FDIC ? smh
amero is getting closer
my lil 10G account not even earnin 1% lol, If FDIC fails though, the country is goin to hell, and thats in no way an exaggeration
Oh Lord...We Finna Die...
Guess the sky really is fallin.........
so where are all these "free market" people who say that we need to let the banks fail in order for the economy to correct itself?
all joking aside............................its getting very real out here.
Unemployment rate hits 25-year high also.
i cant help but wonder what 2010-2012 really has in store.................im not sayin its end of the world but im really starting to believe we are headed fora serious collapse that will lead into a new beginning.........for the WHOLE world. something big is going down.
at banks taking their money out
FDIC's fund before this was $50b.
Total uninsured cash deposits at US banks sit at around $6 trillion. prob less than half of that is average joe money.
$500b is gearing up for a massive failure of some sort.
wow... getting scary now.
With the information age, I think the great depression will never be repeated entirely - people will be able to find places to keep their money, privateinstitutions and what not.. maybe even interest free, or hell.. you could end up having to pay out even as a depositor. But still - the value of the dollar iswhat worries me with all of this.
This is ridiculous. We need leadership and we need it now.
Everyone can't empty their bankout. That's impossible,
The Banks are only required to keep 10% of deposits on deck, and believe me they rarely go over this number. Money lent, invested, etc = money made. Moneysitting in the vault = money thats doing absolutely nothing but sitting there waiting for YOU to withdraw. Little benefit to the bank.
If there was a mass bank rush on all major banks, it would be a wrap.